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AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN 401k Plan overview

Plan NameAFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN
Plan identification number 002

AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

AFZAL H. KHAN M.D. P.A. has sponsored the creation of one or more 401k plans.

Company Name:AFZAL H. KHAN M.D. P.A.
Employer identification number (EIN):650524728
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022022-01-01AFZAL KHAN2023-10-16 AFZAL KHAN2023-10-16
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022018-01-01
0022017-01-01
0022016-01-01

Plan Statistics for AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN

401k plan membership statisitcs for AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN

Measure Date Value
2022: AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets2022-12-311,214,942
Acturial value of plan assets2022-12-311,214,942
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-312
Fundng target for terminated vested participants2022-12-311,812
Active participant vested funding target2022-12-311,442,906
Number of active participants2022-12-313
Total funding liabilities for active participants2022-12-311,442,906
Total participant count2022-12-315
Total funding target for all participants2022-12-311,444,718
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-3148,789
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3148,789
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-310
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-31500,000
Total employee contributions2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-31472,288
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-31184,728
Net shortfall amortization installment of oustanding balance2022-12-31229,776
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31205,962
Additional cash requirement2022-12-31205,962
Contributions allocatedtoward minimum required contributions for current year2022-12-31472,288
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets2021-12-311,228,741
Acturial value of plan assets2021-12-311,228,741
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-312
Fundng target for terminated vested participants2021-12-311,566
Active participant vested funding target2021-12-311,291,893
Number of active participants2021-12-312
Total funding liabilities for active participants2021-12-311,291,893
Total participant count2021-12-314
Total funding target for all participants2021-12-311,293,459
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-3115,680
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3115,680
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-310
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-310
Total employer contributions2021-12-31340,000
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-31327,725
Unpaid minimum required contributions for all prior years2021-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-31268,270
Net shortfall amortization installment of oustanding balance2021-12-3164,718
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31278,936
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31278,936
Contributions allocatedtoward minimum required contributions for current year2021-12-31327,725
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN 2020 401k membership
Market value of plan assets2020-12-311,154,536
Acturial value of plan assets2020-12-311,154,536
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-312
Fundng target for terminated vested participants2020-12-311,403
Active participant vested funding target2020-12-311,064,946
Number of active participants2020-12-313
Total funding liabilities for active participants2020-12-311,064,946
Total participant count2020-12-315
Total funding target for all participants2020-12-311,066,349
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-31474
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31474
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-310
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-310
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-31200,000
Total employee contributions2020-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-310
Contributions made to avoid restrictions adjusted to valuation date2020-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-31192,654
Unpaid minimum required contributions for all prior years2020-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-31265,161
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31176,974
Additional cash requirement2020-12-31176,974
Contributions allocatedtoward minimum required contributions for current year2020-12-31192,654
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN 2019 401k membership
Market value of plan assets2019-12-31879,137
Acturial value of plan assets2019-12-31879,137
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-31854,612
Number of active participants2019-12-314
Total funding liabilities for active participants2019-12-31854,612
Total participant count2019-12-314
Total funding target for all participants2019-12-31854,612
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-310
Prefunding balanced used to offset prior years funding requirement2019-12-310
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-31215
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31215
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-310
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-310
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-31253,350
Total employee contributions2019-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-12-310
Contributions made to avoid restrictions adjusted to valuation date2019-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-31234,725
Liquidity shortfalls end of Q12019-12-310
Liquidity shortfalls end of Q22019-12-310
Liquidity shortfalls end of Q32019-12-310
Liquidity shortfalls end of Q42019-12-310
Unpaid minimum required contributions for all prior years2019-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-12-310
Remaining amount of unpaid minimum required contributions2019-12-310
Minimum required contributions for current year target normal cost2019-12-31258,776
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31234,251
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31234,251
Contributions allocatedtoward minimum required contributions for current year2019-12-31234,725
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets2018-12-31508,352
Acturial value of plan assets2018-12-31508,352
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-31545,900
Number of active participants2018-12-314
Total funding liabilities for active participants2018-12-31545,900
Total participant count2018-12-314
Total funding target for all participants2018-12-31545,900
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-310
Prefunding balanced used to offset prior years funding requirement2018-12-310
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-3115,415
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3115,415
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-310
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31270,095
Total employee contributions2018-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2018-12-310
Contributions made to avoid restrictions adjusted to valuation date2018-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-31260,211
Unpaid minimum required contributions for all prior years2018-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-12-310
Remaining amount of unpaid minimum required contributions2018-12-310
Minimum required contributions for current year target normal cost2018-12-31253,866
Net shortfall amortization installment of oustanding balance2018-12-3137,548
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31259,996
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31259,996
Contributions allocatedtoward minimum required contributions for current year2018-12-31260,211
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN 2017 401k membership
Market value of plan assets2017-12-31278,947
Acturial value of plan assets2017-12-31278,947
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-31259,547
Number of active participants2017-12-314
Total funding liabilities for active participants2017-12-31259,547
Total participant count2017-12-314
Total funding target for all participants2017-12-31259,547
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-310
Prefunding balanced used to offset prior years funding requirement2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-310
Reductions in caryover balances due to elections or deemed elections2017-12-310
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-31252,960
Total employee contributions2017-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2017-12-310
Contributions made to avoid restrictions adjusted to valuation date2017-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-12-31243,472
Unpaid minimum required contributions for all prior years2017-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-12-310
Remaining amount of unpaid minimum required contributions2017-12-310
Minimum required contributions for current year target normal cost2017-12-31247,457
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31228,057
Additional cash requirement2017-12-31228,057
Contributions allocatedtoward minimum required contributions for current year2017-12-31243,472
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: AFZAL H. KHAN M.D. P.A. DEFINED BENEFIT PLAN 2016 401k membership
Market value of plan assets2016-12-310
Acturial value of plan assets2016-12-310
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-310
Number of active participants2016-12-313
Total funding liabilities for active participants2016-12-310
Total participant count2016-12-313
Total funding target for all participants2016-12-310
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
Reductions in caryover balances due to elections or deemed elections2016-12-310
Reductions in prefunding balances due to elections or deemed elections2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31263,819
Total employee contributions2016-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2016-12-310
Contributions made to avoid restrictions adjusted to valuation date2016-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2016-12-31258,564
Unpaid minimum required contributions for all prior years2016-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2016-12-310
Remaining amount of unpaid minimum required contributions2016-12-310
Minimum required contributions for current year target normal cost2016-12-31257,993
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31257,993
Additional cash requirement2016-12-31257,993
Contributions allocatedtoward minimum required contributions for current year2016-12-31258,564
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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